Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Delivery Method:

Self Study

Course Availability:

1 Year

Recommended for:

Billing
Collections
Patient Access
Patient Financial Services
Revenue Cycle

Career level:

Executive
Experienced Professional
Mid-Senior

Audience:

Business Partners
Hospitals and Other Providers
Physicians and Other Practitioners

Advance Preparation:

None

Prerequisites:

Knowledgeable in establishing patient payment plans
Live Webinar | Revenue Cycle

Collecting patient self-pay and keeping patients loyal don't have to be mutually exclusive. In fact, since many people now weigh affordability and convenience equally with quality care outcomes, successful health systems are those that diff...

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Podcast | Revenue Cycle

Eric Foust of IntegraConnect and Chris Watanabe, a former executive at the Regional Emergency Medical Services Authority, talk about the particular challenges of collecting patient information during an ambulance transport. Then, in a spons...

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Course | Overview | Revenue Cycle

In this course we review internal controls for cash handling and posting, electronic funds transfer and electronic remittance advices.

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On Demand Webinar | Intermediate | Revenue Cycle

Healthcare providers have little to no access to accurate, comprehensive, and actionable information on the cost of care.  While hospitals and health systems represents roughly $2 trillion of the annual spend on U.S. healthcare, close ...

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Live Webinar | Revenue Cycle

There is consensus that healthcare administrative costs are excessive. CAQH CORE has been engaging with industry leaders to standardize business processes for prior authorization and attachment workflows. The Phase V CAQH CORE Prior Authori...

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On Demand Webinar | Intermediate | Revenue Cycle

How Meadows Regional Medical Center's patient payment plan improved collections and reduced bad debt

On Demand Webinar | Intermediate | Revenue Cycle

How Meadows Regional Medical Center's patient payment plan improved collections and reduced bad debt

Description

More than half of patients are concerned about their ability to pay a medical expense of $1,000 or less. Payment plans are one way to ease patients' financial concerns while increasing collection rates. Many hospitals don't offer these payment plans, and those who do aren't talking to patients about their payment options. Meadows Regional Medical Center will share its success in developing payment plans that resonate with patients. Meadows Regional boasts a 98% collection rate for no-interest plans and a 79% for low-payment plans. The medical center's approach boasts revenue, patient engagement and patient satisfaction.
After this program, you'll be able to..
  • Discover the difference long term patient financing made for Meadows Regional Medical Center in improving collections and reducing bad debt
  • Learn to implement a new model for patient payment plans, the keys to communicating patient financing options and the skills required to manage this approach

Related Courses | Revenue Cycle

Course | Basic | KPIs

PAE: Key Performance Indicators in Revenue Cycle

This course will address Key Performance Indicators (KPIs) and benchmarking in accounts receivables. It will review the various techniques used to measure accounts receivables.

Course | Overview | Patient Access

PAE: Health Plans - An Overview

In this course we will address the basic billing rules for major health plans, including an overview of basic billing features and benefits, types of billing rules and minor claim payers and plans.

Course | Basic | Self-Payment Collection

PAE: Self-Pay Follow Up

In this course we will address patient balance billing after insurance; contract issues and limitations; and required processing differences between bad debt and financial assistance care (such as charity). Appropriate notations are included within the course to direct you to the specific requirements of Section 501(r) of the Internal Revenue Code course related to financial assistance policies, applications and other requirements for non-profit hospitals in the handling of potential and eligible financial assistance patients. This course also includes an overview of Medicare bad debt rules and their financial impact.

Course | Basic | Patient Access

PAE: Pre-Registration and Insurance Verification

In this course we will address the pre-registration purpose and process, information collected during pre-registration, and consequences that an organization may experience due to inaccurate or incorrect patient information. It will also provide an overview of the Medicare Secondary Payer screening process.